United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties. The company was formerly known as United Continental Holdings, Inc. and changed its name to United Airlines Holdings, Inc. in June 2019. United Airlines Holdings, Inc. was incorporated in 1968 and is headquartered in Chicago, Illinois.

United Airlines Holdings, Inc.

Ryder System, Inc. (R) reported mixed third-quarter 2025 results wherein the company’s earnings surpassed the Zacks Consensus Estimate while revenues missed the mark.
Quarterly earnings per share of $3.57 surpassed the Zacks Consensus Estimate by a penny and improved 3.7% year over year, reflecting higher contractual earnings and share repurchases. The reported figure lies within the guided range of $3.45-$3.65.
Total revenues of $3.17 billion lagged the Zacks Consensus Estimate of $3.22 billion and marginally grew 0.1% year over year. Operating revenues (adjusted) of $2.61 billion, up 1% year over year, reflecting contractual revenue growth in Supply Chain Solutions (SCS) and Fleet Management Solutions (FMS).
Ryder chairman and chief executive officer, Robert Sanchez, stated, "Ryder delivered our fourth consecutive quarter of earnings-per-share growth. Earnings were in line with our expectations as operating performance from our resilient contractual businesses and benefits from our strategic initiatives more than offset the impact from freight market conditions. We are on track to deliver earnings growth in 2025 driven by benefits from our lease pricing and multi-year maintenance cost-saving initiatives, acquisition synergies, and optimization of our omnichannel retail network.”
Ryder System, Inc. Price, Consensus and EPS Surprise
Segmental Results
Fleet Management Solutions: Total revenues of $1.46 billion inched down 0.3% year over year. Operating revenues totaled $1.28 billion, almost in line on a year-over-year basis.
Supply-Chain Solutions: Total revenues of $1.38 billion inched up 5% year over year, reflecting increased operating revenues and subcontracted transportation costs passed through to customers. Operating revenues rose 4% year over year to $1.03 billion, owing to new business in omnichannel retail.
Dedicated Transportation Solutions: Total revenues of $570 million and operating revenues of $458 million declined 10% and 6%, year over year, respectively, owing to decreased subcontracted transportation costs and lower fleet count reflecting prolonged freight market downturn.
Liquidity
Ryder exited the third quarter with cash and cash equivalents of $189 million compared with $180 million at the end of the prior quarter. R’s total debt (including the current portion) was $7.85 billion at the third-quarter end compared with $7.72 billion at the end of the prior quarter.
R’s Outlook
For fourth-quarter 2025, Ryder expects adjusted EPS in the range of $3.50-$3.70. The Zacks Consensus Estimate of $3.76 lies above the guidance.
For 2025, Ryder now expects adjusted EPS in the range of $12.85-$13.05 (prior view: $12.85 - $13.30). The Zacks Consensus Estimate of $13.09 lies above the updated guidance.
Management continues to anticipate total revenues to increase by almost 1%. Operating revenues (adjusted) are still expected to increase 1%.
Adjusted ROE (return on equity) is still expected to be 17%. Net cash from operating activities is still projected to be $2.8 billion. Adjusted free cash flow is still expected to be in the range of $900 million-$1.00 billion. Capital expenditure is still estimated to be $2.3 billion.
Currently, Ryder carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
J.B. Hunt Transport Services, Inc. (JBHT) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.
Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.
United Airlines Holdings, Inc. (UAL) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25-$2.75.
Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.
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Ryder Tops Q3 Earnings Estimates, Improves Y/Y, Tweaks 2025 EPS View

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Norfolk Southern Corporation (NSC) third-quarter 2025 earnings (excluding 14 cents from non-recurring items) of $3.30 per share beat the Zacks Consensus Estimate of $3.18 and increased 1.5% year over year.
Railway operating revenues were $3.10 billion in the quarter under review, beating the Zacks Consensus Estimate of $3.08 billion. The top line increased 2% year over year, on flat volumes. Total revenue per unit surged 2% year over year.
Income from railway operations fell 31% year over year to $1.09 billion. Railway operating expenses inched up 38% on a year-over-year basis to $2.00 billion, primarily due to a double-digit increase in expenses on minerals and other items.
NSC’s president and chief executive officer, Mark George, stated, “Norfolk Southern delivered another quarter of strong results on safety, service, and productivity through a dynamic freight market. The entire Thoroughbred team pulled together to serve our customers, achieve an all-time record in fuel efficiency, delivered on key productivity initiatives, and executed a noteworthy land sale that will ultimately deliver rail volumes for years to come. I’m proud of the way our team is performing with discipline and focus — driving results and strengthening our foundation for long term success.”
Norfolk Southern Corporation Price, Consensus and EPS Surprise
Q3 Segmental Performance
Merchandise revenues increased 6% year over year to $1.96 billion. Revenue per unit surged 0.3% year over year.
Intermodal’s revenues fell 1% year over year at $759 million. While segmental volumes decreased 2%, revenue per unit inched up 1% year over year.
Coal revenues were $375 million, down 12% year over year. Coal volumes decreased 5% year over year. Revenue per unit declined 8% in the reported quarter.
Liquidity
Norfolk Southern, currently carrying a Zacks Rank #4 (Sell), exited the third quarter with cash and cash equivalents of $1.41 billion compared with $1.30 billion at the end of the prior quarter. NSC had a long-term debt of $16.5 billion at the third-quarter end, flat sequentially.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
J.B. Hunt Transport Services, Inc. (JBHT) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.
Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.
United Airlines Holdings, Inc. (UAL) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 and $2.75.
Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.
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Norfolk Southern Q3 Earnings & Revenues Beat Estimates, Rise Y/Y

Southwest Airlines Co. (LUV) reported mixed third-quarter 2025 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues lagged the same.
Quarterly earnings of 11 cents per share beat the Zacks Consensus Estimate of 1 cent but declined 26.7% year over year. Revenues of $6.94 billion missed the Zacks Consensus Estimate of $6.96 billion, but improved 1.1% year over year. Passenger revenues (which accounted for 90.8% of the top line) grew 1% year over year to $6.31 billion.
Quarterly results benefited from better-than-anticipated unit revenues and unit costs.
Bob Jordan, president, chief executive officer, & vice chairman of the board of directors, stated, "We continue to make substantial progress as we execute the most significant transformation in Southwest Airlines' history. We quickly implemented many new product attributes and enhancements, and the results are showing—we delivered a profitable quarter, with both unit revenues and unit costs performing better-than-anticipated, are reaffirming our full year 2025 EBIT2 guidance, and expect meaningful margin expansion in the fourth quarter. We continue to deliver a strong operational performance and are currently in first place year-to-date based on our calculations of the Wall Street Journal's airline rankings, an important indicator of success from the continued investment in our operation. These significant accomplishments reflect the strength of our plan, the quality of our execution, and the dedication of our Team.”
Southwest Airlines Co. Price, Consensus and EPS Surprise
Operating Statistics
Airline traffic, measured in revenue passenger miles, fell 1% year over year to 36.36 billion in the quarter under review. Capacity or available seat miles (ASMs) grew 0.8% year over year to 45.56 billion.As traffic failed to outpace capacity expansion, load factor (percentage of seat occupancy) fell 1.4 percentage points to 79.8%. Our estimate stands at 78.2%.
Passenger revenue per available seat mile (PRASM: a key measure of unit revenues) grew 0.2% year over year to 13.85 cents.
Revenue per available seat mile (RASM) grew 0.4% year over year to 15.25 cents.
Operating Expenses & Income
In the third quarter, Southwest Airlines incurred an operating income of $35 million compared with $38 million in the year-ago quarter. On an adjusted basis (excluding special items), the company reported operating income of $42 million compared with $32 million in the year-ago quarter.
Total adjusted operating expenses (excluding profit sharing, special items, fuel and oil expenses) increased 3.4% in the third quarter of 2025.
Fuel cost per gallon (inclusive of fuel tax: economic) fell 5.9% year over year to $2.40.
Consolidated unit cost or cost per available seat mile (CASM) excluding fuel, oil and profit-sharing expenses, and special items grew 2.5% year over year.
Liquidity
Southwest Airlines ended the third quarter with cash and cash equivalents of $2.90 billion compared with $3.47 billion at the end of the prior quarter. As of Sept. 30, 2025, the company had long-term debt (less current maturities) of $4.08 billion, which was flat sequentially.
LUV generated $287 million of cash from operating activities in the reported quarter. Third-quarter 2025 capital expenditures were $678 million, owing to aircraft-related capital spending, as well as technology, facilities and operational investments.
During third-quarter 2025, LUV returned $439 million to its shareholders, which includes $189 million in the form of dividend payments and $250 million through share repurchases under its current $2.0 billion share repurchase authorization.
Outlook
LUV anticipates fourth-quarter 2025 unit revenues to be up 1-3%, on a year-over-year basis, excluding special items, on capacity up almost 6% year over year. This guidance range assumes demand strength remains at current levels through the end of the quarter. LUV anticipates delivering an all-time quarterly record revenue performance in the fourth quarter.
Economic fuel costs per gallon are expected to be between $2.20 and $2.30 for fourth-quarter 2025.
LUV continues to expect to achieve its $370 million cost reduction target this year. LUV anticipates fourth-quarter 2025 CASM-X to be in the range of up 1.5-2.5%, or flat to up 1% when excluding the impact of expected book gains from fleet transactions in the fourth quarter of both years, on capacity up almost 6%, all on a year-over-year basis. Unit costs continue to be backed by the continuation of inflationary pressures, including those associated with labor contracts ratified in 2024. LUV remains focused on driving efficiencies to offset overall inflationary cost pressures and achieve its multi-year cost reduction targets.
LUV now anticipates 2025 capacity to be up roughly 1.5%, year over year, including the capacity increase associated with shifting extra legroom seating retrofits of -700 aircraft to January 2026, which delays the removal of six seats from each of those aircraft. This shift is anticipated to maximize revenue potential during the holiday travel period and still meet the company's operational date milestone of Jan. 27, 2026, for assigned and extra legroom seating, as the company's Technical Operations Team has streamlined the timeline to complete this work.
LUV continues to anticipate its 2025 capital spending to be in the range of $2.5 billion to $3.0 billion (including the additional aircraft deliveries now expected, as well as the impact of the expected sale of -800 aircraft this year).
LUV is reaffirming 2025 earnings before interest and taxes, excluding special items, guidance range of $600 million to $800 million. LUV is also reaffirming its full-year incremental EBIT contribution targets of $1.8 billion for 2025 and $4.3 billion for 2026 from those initiatives.
Currently, LUV carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
J.B. Hunt Transport Services, Inc. (JBHT) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.
Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.
United Airlines Holdings, Inc. (UAL) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 and $2.75.
Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.
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Southwest Airlines Q3 Earnings Beat, Revenues Lag Estimates

Below is Validea's guru fundamental report for UNITED AIRLINES HOLDINGS INC (UAL). Of the 22 guru strategies we follow, UAL rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
UNITED AIRLINES HOLDINGS INC (UAL) is a large-cap value stock in the Airline industry. The rating using this strategy is 84% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
ACQUIRER'S MULTIPLE
FAIL
Detailed Analysis of UNITED AIRLINES HOLDINGS INC
UAL Guru Analysis
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About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for UAL

Westinghouse Air Brake Technologies Corporation (WAB) reported encouraging third-quarter 2025 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate as well as reported year-over-year growth.
Quarterly earnings per share of $2.32 beat the Zacks Consensus Estimate of $2.23 and improved 16% year over year due to higher sales, operating margin expansion and benefits from share repurchases. Revenues of $2.88 billion outpaced the Zacks Consensus Estimate of $2.86 billion. The top line grew 8.4% year over year due to higher sales in the Freight segment (which includes the acquisition of Inspection Technologies) and in the Transit segment.
Rafael Santana, Wabtec’s president and chief executive officer, stated, “The Wabtec team delivered a very strong quarter, evidenced by continued growth in our backlog, sales, margin, and earnings. We continue to be encouraged by the pipeline of opportunities that remains ahead of us. Our team’s commitment to product innovation, disciplined cost management, focused execution and partnership with our customers has been instrumental in driving our ongoing success. Together with our strong results, these factors give us confidence to continue to deliver on profitable growth into the future. Our team’s dedication positions us to drive Wabtec’s success, even in a dynamic and uncertain economic environment.”
Wabtec Price, Consensus and EPS Surprise
WAB’s Segmental Highlights
Freight segment’s net sales of $2.09 billion grew 8.4% year over year. The upside was aided by growth in Equipment sales (up 32% driven by higher locomotive deliveries), Digital sales (up 45.6% owing to the acquisition of Inspection Technologies) and Components sales
Freight segment’s adjusted operating margin grew to 24.5% from 24.1% in the year-ago quarter. Adjusted operating margin benefited from improved gross margin, which was partially offset by higher operating expenses as a percentage of revenue.
In the Transit segment, net sales grew 8.2% year over year to $793 million, due to strong aftermarket and original equipment sales. The segmental adjusted operating margin increased to 15.5% from 12.8% in the third quarter of 2024, aided by improved gross margins, partially offset by higher operating expenses as a percent of revenue.
Other Q3 Details of WAB
Total operating expenses in the reported quarter increased $64 million from a year ago to $511 million. Operating ratio (operating expenses as a % of net sales) rose to 17.7% from 16.8% a year ago.
Wabtec exited the third quarter with cash, cash equivalents and restricted cash of $528 million compared with $1.49 billion at the prior quarter-end. Long-term debt was $5.03 billion compared with $4.78 billion at the prior quarter-end.
During the reported quarter, WAB paid $43 million in dividends.
WAB’s 2025 Guidance
Wabtec raised and tightened its 2025 adjusted EPS guidance range to $8.85 to $9.05 from the prior guided range of $8.55 to $9.15.The Zacks Consensus Estimate of $8.90 lies within the guidance.
For revenues, WAB continues to expect its 2025 guidance between $10.925 billion and $11.225 billion. The Zacks Consensus Estimate of $11.08 billion lies within the guidance.
For 2025, Wabtec continues to expect operating cash flow conversion to exceed 90%.
Currently, Wabtec carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
J.B. Hunt Transport Services, Inc. (JBHT) reported third-quarter 2025 earnings of $1.76 per share, which surpassed the Zacks Consensus Estimate of $1.47 and improved 18.1% year over year.
Total operating revenues of $3.05 billion surpassed the Zacks Consensus Estimate of $3.02 billion and were down 0.5% year over year. JBHT’s third-quarter revenue performance was hurt by a 1% and 4% decline in gross revenue per load in Intermodal (JBI) and Truckload (JBT), respectively, a decrease in load volume of 8% and 1% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services (DCS), respectively, and 8% fewer stops in Final Mile Services (FMS). These items were partially offset by a 3 % improvement in DCS productivity, a 9% increase in revenue per load in ICS and 14% load growth in JBT. Total operating revenue, excluding fuel surcharge revenue, fell less than 1% year over year.
United Airlines Holdings, Inc. (UAL) reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 surpassed the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 and $2.75.
Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.3 billion but increased 2.6% year over year. Passenger revenues (which accounted for 90.7% of the top line) increased 1.9% year over year to $13.8 billion. UAL flights transported 48,382 passengers in the third quarter, up 6.2% year over year.
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Wabtec Q3 Earnings & Revenues Beat Estimates, 2025 EPS View Tweaked

Fintel reports that on October 20, 2025, TD Cowen maintained coverage of United Airlines Holdings (NasdaqGS:UAL) with a Buy recommendation.
Analyst Price Forecast Suggests 10.66% Upside
As of September 29, 2025, the average one-year price target for United Airlines Holdings is $112.10/share. The forecasts range from a low of $46.67 to a high of $137.55. The average price target represents an increase of 10.66% from its latest reported closing price of $101.30 / share.
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The projected annual revenue for United Airlines Holdings is 56,293MM, a decrease of 3.56%. The projected annual non-GAAP EPS is 18.02.
What is the Fund Sentiment?
There are 1,650 funds or institutions reporting positions in United Airlines Holdings. This is an increase of 51 owner(s) or 3.19% in the last quarter. Average portfolio weight of all funds dedicated to UAL is 0.23%, an increase of 0.95%. Total shares owned by institutions decreased in the last three months by 0.83% to 335,826K shares. The put/call ratio of UAL is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 21,996K shares representing 6.79% ownership of the company. In its prior filing, the firm reported owning 19,948K shares , representing an increase of 9.31%. The firm increased its portfolio allocation in UAL by 11.38% over the last quarter.
Primecap Management holds 18,835K shares representing 5.82% ownership of the company. In its prior filing, the firm reported owning 21,800K shares , representing a decrease of 15.74%. The firm decreased its portfolio allocation in UAL by 4.49% over the last quarter.
Sanders Capital holds 14,515K shares representing 4.48% ownership of the company. In its prior filing, the firm reported owning 14,554K shares , representing a decrease of 0.27%. The firm increased its portfolio allocation in UAL by 3.31% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 13,606K shares representing 4.20% ownership of the company. In its prior filing, the firm reported owning 13,112K shares , representing an increase of 3.63%. The firm decreased its portfolio allocation in UAL by 13.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,530K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 10,406K shares , representing an increase of 1.18%. The firm increased its portfolio allocation in UAL by 4.12% over the last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

TD Cowen Maintains United Airlines Holdings (UAL) Buy Recommendation

Fintel reports that on October 17, 2025, Barclays maintained coverage of United Airlines Holdings (NasdaqGS:UAL) with a Overweight recommendation.
Analyst Price Forecast Suggests 13.12% Upside
As of September 29, 2025, the average one-year price target for United Airlines Holdings is $112.10/share. The forecasts range from a low of $46.67 to a high of $137.55. The average price target represents an increase of 13.12% from its latest reported closing price of $99.10 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for United Airlines Holdings is 56,293MM, a decrease of 3.56%. The projected annual non-GAAP EPS is 18.02.
What is the Fund Sentiment?
There are 1,648 funds or institutions reporting positions in United Airlines Holdings. This is an increase of 45 owner(s) or 2.81% in the last quarter. Average portfolio weight of all funds dedicated to UAL is 0.24%, an increase of 1.59%. Total shares owned by institutions decreased in the last three months by 1.31% to 335,496K shares. The put/call ratio of UAL is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 21,996K shares representing 6.79% ownership of the company. In its prior filing, the firm reported owning 19,948K shares , representing an increase of 9.31%. The firm increased its portfolio allocation in UAL by 11.38% over the last quarter.
Primecap Management holds 18,835K shares representing 5.82% ownership of the company. In its prior filing, the firm reported owning 21,800K shares , representing a decrease of 15.74%. The firm decreased its portfolio allocation in UAL by 4.49% over the last quarter.
Sanders Capital holds 14,515K shares representing 4.48% ownership of the company. In its prior filing, the firm reported owning 14,554K shares , representing a decrease of 0.27%. The firm increased its portfolio allocation in UAL by 3.31% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 13,606K shares representing 4.20% ownership of the company. In its prior filing, the firm reported owning 13,112K shares , representing an increase of 3.63%. The firm decreased its portfolio allocation in UAL by 13.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,530K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 10,406K shares , representing an increase of 1.18%. The firm increased its portfolio allocation in UAL by 4.12% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Barclays Maintains United Airlines Holdings (UAL) Overweight Recommendation

Fintel reports that on October 17, 2025, UBS maintained coverage of United Airlines Holdings (NasdaqGS:UAL) with a Buy recommendation.
Analyst Price Forecast Suggests 13.12% Upside
As of September 29, 2025, the average one-year price target for United Airlines Holdings is $112.10/share. The forecasts range from a low of $46.67 to a high of $137.55. The average price target represents an increase of 13.12% from its latest reported closing price of $99.10 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for United Airlines Holdings is 56,293MM, a decrease of 3.56%. The projected annual non-GAAP EPS is 18.02.
What is the Fund Sentiment?
There are 1,648 funds or institutions reporting positions in United Airlines Holdings. This is an increase of 45 owner(s) or 2.81% in the last quarter. Average portfolio weight of all funds dedicated to UAL is 0.24%, an increase of 1.59%. Total shares owned by institutions decreased in the last three months by 1.31% to 335,496K shares. The put/call ratio of UAL is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 21,996K shares representing 6.79% ownership of the company. In its prior filing, the firm reported owning 19,948K shares , representing an increase of 9.31%. The firm increased its portfolio allocation in UAL by 11.38% over the last quarter.
Primecap Management holds 18,835K shares representing 5.82% ownership of the company. In its prior filing, the firm reported owning 21,800K shares , representing a decrease of 15.74%. The firm decreased its portfolio allocation in UAL by 4.49% over the last quarter.
Sanders Capital holds 14,515K shares representing 4.48% ownership of the company. In its prior filing, the firm reported owning 14,554K shares , representing a decrease of 0.27%. The firm increased its portfolio allocation in UAL by 3.31% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 13,606K shares representing 4.20% ownership of the company. In its prior filing, the firm reported owning 13,112K shares , representing an increase of 3.63%. The firm decreased its portfolio allocation in UAL by 13.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,530K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 10,406K shares , representing an increase of 1.18%. The firm increased its portfolio allocation in UAL by 4.12% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

UBS Maintains United Airlines Holdings (UAL) Buy Recommendation

CSX Corporation CSX reported mixed third-quarter 2025 results wherein its earnings beat the Zacks Consensus Estimate, but revenues missed the same. Quarterly earnings per share of 44 cents on an adjusted basis beat the Zacks Consensus Estimate of 42 cents but decreased 4.3% on a year-over-year basis on the back of lower revenues.
Total revenues of $3.59 billion narrowly missed the Zacks Consensus Estimate and declined 1% year over year. The downside was owing to lower export coal prices and a decline in merchandise volume. These were partially offset by higher merchandise pricing, an increase in other revenues and growth in intermodal volume.
Third-quarter adjusted operating income decreased significantly year over year to $1.25 billion. CSX’s adjusted operating margin during the September quarter was 34.9%. Total volumes inched up 1% year over year.
CSX Corporation Price, Consensus and EPS Surprise
Q3 Segmental Performance of CSX
Merchandise revenues fell 1% year over year to $2.21 billion in the reported quarter, lower than our estimate of $2.29 billion. Merchandise volumes fell 1% year over year to $660 million. Segmental revenue per unit remained flat year over year.
Intermodal revenues increased 4% year over year to $527 million, higher than our estimate of $495 million. Segmental volumes increased 5% while revenue per unit decreased 2% year over year.
Coal revenues plummeted 11% year over year to $490 million in the reported quarter, higher than our estimate of $481.6 million. Coal volumes decreased 3% year over year, while segmental revenue per unit fell 9%.
Trucking revenues totaled $207 million (below our estimate of $224 million), down 3% year over year. Other revenues grew 38% year over year to $155 million (above our estimate of $103.1 million) in the reported quarter.
Liquidity
CSX exited the third quarter of 2025 with cash and cash equivalents of $602 million compared with $933 million at the end of 2024. Long-term debt of $18.5 billion remained flat sequentially.
2025 Guidance of CSX
For 2025, CSX still expects total volume growth.
CSX will continue to focus on operational excellence, labor productivity and efficiency initiatives. Capital expenditures are expected to be $2.5 billion this year, excluding hurricane rebuild spending.
Currently, CSX carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2025 earnings (excluding 46 cents from non-recurring items) of $1.71 per share, which beat the Zacks Consensus Estimate of $1.52. Earnings increased 14% on a year-over-year basis due to low fuel costs.
Revenues in the September-end quarter were $16.67 billion, beating the Zacks Consensus Estimate of $15.79 billion and increasing 6.4% on a year-over-year basis. Due to improving air-travel demand, adjusted operating revenues (excluding third-party refinery sales) increased 4.1% year over year to $15.2 billion.
United Airlines UAL reported mixed third-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.
UAL's third-quarter 2025 adjusted earnings per share (EPS) (excluding 12 cents from non-recurring items) of $2.78 beat the Zacks Consensus Estimate of $2.64 but declined 16.5% on a year-over-year basis. The reported figure lies above the guided range of $2.25 to $2.75 per share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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